Asia-Pacific: Meat Market 2024

Meat Market Size in Asia-Pacific

After two years of growth, the Asia-Pacific meat market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The level of consumption peaked at $X in 2021, and then declined in the following year.

Meat Production in Asia-Pacific

In value terms, meat production expanded markedly to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

China (X tons) remains the largest meat producing country in Asia-Pacific, comprising approx. X% of total volume. Moreover, meat production in China exceeded the figures recorded by the second-largest producer, India (X tons), ninefold. The third position in this ranking was held by Australia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (X% per year) and Australia (X% per year).

In 2022, the average meat yield in Asia-Pacific declined modestly to X kg per head, with a decrease of X% compared with the previous year. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the yield attained the peak level of X kg per head, and then fell in the following year.

In 2022, number of animals slaughtered for meat production in Asia-Pacific dropped to X heads, waning by X% compared with the previous year. Over the period under review, the number of producing animals continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, this number hit record highs at X heads in 2015; however, from 2016 to 2022, producing animals failed to regain momentum.

Meat Exports

Exports in Asia-Pacific

In 2022, the amount of meat exported in Asia-Pacific declined modestly to X tons, remaining constant against the previous year. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, meat exports expanded to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

In 2022, Australia (X tons), India (X tons) and New Zealand (X tons) represented the major exporter of meat in Asia-Pacific, achieving X% of total export. The following exporters - Pakistan (X tons) and Hong Kong SAR (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest meat supplying countries in Asia-Pacific were Australia ($X), New Zealand ($X) and India ($X), together accounting for X% of total exports. Pakistan and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Pakistan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Meat Imports

Imports in Asia-Pacific

In 2022, purchases abroad of meat decreased by X% to X tons, falling for the second year in a row after nine years of growth. Over the period under review, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, meat imports declined slightly to $X in 2022. In general, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted modestly in the following year.

Imports by Country

China was the major importer of meat in Asia-Pacific, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Japan (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%) and the Philippines (X%). The following importers - Malaysia (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) - each recorded an X% share of total imports.

China was also the fastest-growing in terms of the meat imports, with a CAGR of X% from 2012 to 2022. At the same time, the Philippines (X%), Taiwan (Chinese) (X%), Malaysia (X%), South Korea (X%) and Japan (X%) displayed positive paces of growth. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.), Hong Kong SAR (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported meat in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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